Economics

B2B Stories

Simon Says: Disputing a website’s ranking of Augusta’s affordability

GoodHire has just released its list of the most affordable cities to live and work in 2022 (https://www.goodhire.com/resources/articles/americas-most-affordable-places). They analyzed data from 155 cities with a labor force greater than 150,000. Top of the list is Sioux Falls, S.D. and Los Angeles was bottom. Georgia cities are represented by Atlanta (11), Savannah (47), and Augusta (117). What?! Atlanta is more affordable than Augusta? Something doesn’t seem right, so I looked at their methodology and the data they used. They used data from seven factors to establish their ranking. Wage growth

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B2B Stories

Mondays with Rick: Efforts to increase financial literacy

Dr. Rick Franza, Dean of the Hull College of Business, discusses a different, timely business topic each Monday in this column. This week, with statistics showing that less than a third of Americans qualify as financially literate, he discusses some proposals to increase financial literacy, especially among students. The interview has been edited for clarity and impact. ABD: Let’s start by defining what is meant by financial literacy. Rick: Financial literacy is being able to manage your finances. It’s understanding things like budgeting, credit, investments, interest rates, and savings. ABD:

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B2B Stories

Simon Says: Numbers don’t always match the words spoken about them

I am sometimes a little skeptical of some numbers bandied around by politicians and economic development folks, but I do understand they are cheerleaders and need to present information in the best light. So, it was with interest that I read in Augusta Business Daily last week that Pat Wilson, Commissioner of the Georgia Department of Economic Development, said Georgia had added 35,000 jobs in the Fiscal Year 2022. The state fiscal year began in July 2021. I looked up the job numbers on the Federal Reserve Economic Data website

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B2B Stories

Masters Tournament 2022 numbers return to normal levels

After two pandemic years, local merchants and hotels were glad to see crowds and income on par with pre-covid years. It was standing room only at TBonz during the 2022 Masters Tournament, according to Henry Scheer. The restaurant drew much larger crowds than it did in 2019 and 2020. Scheer, co-owner of the well-known restaurant located just blocks from the Augusta National Golf Club, said he was very pleased with the turnout for the first full tournament in three years. The crowds were so large that customers had to wait

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Large events draw thousands to the area, add $6 million to the local economy

The Masters has a massive economic impact on the CSRA, but Augusta is home to many other large events during the rest of the year, such as meetings, conferences, and games. These events bring thousands of people to the CSRA and generate millions of dollars in revenue for local hotels, restaurants, retail shops, and other businesses. Destination Augusta and the Augusta Sports Council recently announced events held in the second quarter (April-June) of 2022 are expected to generate a total estimated economic impact of more than $6 million. “I’m extremely

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Bad news and good news: Gas prices staying higher but American energy is still a good deal

The bad news is that gas prices probably won’t be decreasing in the foreseeable future. But the good news, says Marty Koger, is that buying a tank of gas for your car is still a pretty good deal. Koger’s family has been selling gas and diesel fuel in Augusta since 1927, and he has been in the business since 1980. He once owned several area gas stations but now owns a company delivering ethanol, an important ingredient in the gas we put into our cars. He still follows the petroleum

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B2B Stories

Employees are seeking flexibility, work-life integration

How Americans work has changed drastically in the past few years and that has created a new term for both employers and employees – work-life integration. “‘Work-life balance’ is a dated term that is recognized by the older generations,” Melissa Furman, a leading Management Consultant and lecturer in the James M. Hull College of Business at Augusta University, said in a press release. “The younger generations are seeking ‘work-life integration’ and in some cases, view their jobs as ‘side hustles’ to support their career of life.” During the pandemic, many

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B2B Stories

Simon Says: Economists agree on many things, including immigration policies

The United States (and the Medcalfe household) is deeply divided over many hot topics of the day. For example, should toast be buttered warm or cold? (Correct answer: warm). Should toilet paper go over or under? (Is this really a question of debate – OVER!) In economics circles, there is a remarkable consensus among economists about a range of economic matters. A new survey of American Economic Association members (https://drive.google.com/file/d/1PSNIgpy37sbOBqQav4hqeokUyZZu1bQ0/view) found no consensus over just one out of 46 propositions. A strong consensus was seen in 15 of the propositions,

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